Strategic Risk: A Guide for Directors

Author(s): Actuarial Profession and Institution of Civil Engineers
ISBN: 9780727734679
Publication Date: 05 May 2006
Stock level: In stock

£68.75

Format:Paperback
Publication status: Published
Publisher:ICE Publishing
Page size:297x210mm
Number of pages:32
Digital version:Buy this eBook

"Reading this report will make company directors think hard - and few will decide to ignore its cogent and direct advice"- Dr Martin Barnes, Executive Director, The Major Projects Association and President, The Association for Project ManagementThe…



Subjects: Professional practice: Leadership and ManagementBusiness skills and techniques
Product code: 9780727734679

"Reading this report will make company directors think hard - and few will decide to ignore its cogent and direct advice"
- Dr Martin Barnes, Executive Director, The Major Projects Association and President, The Association for Project Management

The success of enterprises can often be attributed to their successful management of strategic risk. Conversely, failure to manage strategic risk can lead to often catastrophic consequences - Enron, Arthur Anderson, Kvaerner and Equitable Life were all seriously affected by a failure to think sufficiently about strategic risk.

Most organisations have well embedded procedures for assessing and mitigating project and operational risks. Strategic risks are an order of magnitude greater and, by their very nature, involve a wider range of uncertainty and the interaction between a large number of factors, with major benefits accruing from managing them well and often dire consequences from the failure to manage them effectively.

This major new printed guide and CD, compiled by a group of industry experts working under the auspices of the DTI, the Institution of Civil Engineers and the Actuarial Profession, presents in a succinct and cogent way a recommended approach to the management of strategic risk, STRATrisk, and an explanation of how to apply the approach.

Among the practical steps recommended are:

• examination of the key processes already embedded in the organisation to see whether they contain hidden strategic risks
• adequate follow-through from risk identification
• the use of tools such as horizon scanning, concept mapping, pattern recognition and risk grouping

The CD amplifies the information contained in the printed guide and provides video clips and a number of case studies.

"I thoroughly recommend it”
- Lord Broers, President of the Royal Academy of Engineering